U.S. horizontal natgas rig count hits record high

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NEW YORK, Nov 5 (Reuters) - The number of horizontal rigs
drilling for oil and natural gas in the United States rose by
24 to a record high of 943 this week, oil services firm Baker
Hughes said on Friday.

Horizontal rigs -- the type most often used to extract gas
from shale -- easily eclipsed the previous record high of 929
hit in early October.

Analysts estimate that two-thirds of horizontal rigs are
drilling for natural gas, and these comprise part of the
overall rig count. The rest are drilling for oil.

The overall gas-directed rig count fell by 12 this week to
955, below the 18-month high of 992 hit in mid-August.
(Reporting by Joe Silha; Editing by David Gregorio)